OLD GREENWICH, Conn. (AP) _ Ellington Residential Mortgage REIT (EARN) on Tuesday reported a first-quarter loss of $16.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Old Greenwich, Connecticut-based company said it had a loss of $1.35. Earnings, adjusted for non-recurring costs, were 27 cents per share.
The residential mortgage real estate investment trust posted revenue of $3.8 million in the period.
Ellington Residential shares have dropped 17% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.01, a drop of 23% in the last 12 months.